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AM Best Downgrades Credit Ratings of California Casualty Group Members
News – Insurance Journal Jun 14, 2019 | 16:59 pmAM Best has downgraded the Long-Term Issuer Credit Ratings (Long-Term ICR) to “bbb” from “bbb+” and affirmed the Financial Strength Rating (FSR) of B++ (Good) of The California Casualty Indemnity Exchange in San Mateo, Calif., and its wholly owned subsidiaries.[…]
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Arthur J. Gallagher Acquires Abram Interstate Insurance Services in California
News – Insurance Journal Jun 14, 2019 | 16:55 pmArthur J. Gallagher & Co. has acquired Rocklin, Calif.-based Abram Interstate Insurance Services Inc. Terms of the deal were not disclosed. Ron Abram and his associates will remain in their current location under the direction of Joel Cavaness, president of[…]
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Mississippi Requests Pumps from Federal Govt. to Ease Flooding
News – Insurance Journal Jun 14, 2019 | 12:42 pmFaced with weeks more flooding in a part of Mississippi that’s been underwater since February, one of the state’s U.S. senators on Wednesday asked President Donald Trump to order temporary pumps to the area to begin pumping water over the[…]
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Pinnacle Adds Schubert as Consulting Actuary in Atlanta
News – Insurance Journal Jun 14, 2019 | 12:31 pmPinnacle Actuarial Resources, Inc. has hired Christopher J. Schubert as a consulting actuary in the firm’s Atlanta office. Schubert has more than 8 years of property and casualty actuarial experience. Prior to consulting, Schubert worked for a primary insurance carrier[…]
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Chicago Council Approves $3.7M Settlement for Victims of 2014 Crash
News – Insurance Journal Jun 14, 2019 | 12:07 pmChicago’s City Council approved a $3.7 million legal settlement to three people injured in a 2014 car crash. The bulk of the settlement is meant for Kelsey Ibach, who was paralyzed when an auto she was a passenger in landed[…]
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Texas Governor Signs Disaster Relief, Preparedness Bills
News – Insurance Journal Jun 14, 2019 | 12:02 pmGov. Greg Abbott has signed four bills into law aimed at bolstering the state’s emergency preparedness and disaster relief programs, including framework that provides more than $1.6 billion for flood control projects and repairs across the state. The legislation, which[…]
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Workplace Mass Shootings Are Rare But Still a Worry to Americans
News – Insurance Journal Jun 14, 2019 | 11:24 amA postal worker on disability retirement for psychological issues returned to her workplace years later and killed six people. A Connecticut beer delivery worker irate over being forced to resign opened fire as he was being escorted out of the[…]
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Nevada Attorney General Recommends $25M Wildfire Settlement
News – Insurance Journal Jun 14, 2019 | 10:47 amNevada’s attorney general is recommending approval of a $25 million settlement with homeowners and insurance companies who sought more than $300 million in damages from the state after a fire destroyed 24 homes south of Reno when strong winds reignited[…]
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Suit Filed Against Wyoming Developer in Deadly Trench Collapse
News – Insurance Journal Jun 14, 2019 | 10:44 amA wrongful death lawsuit claims dangerous work conditions and a Wyoming developer’s negligence caused the deaths of two men when a trench collapsed last year. The Jackson Hole News and Guide reports the lawsuit was filed Tuesday on behalf of[…]
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Travelers Beefing up Wildfire Protection After 2018 California Blazes
News – Insurance Journal Jun 14, 2019 | 10:13 amTravelers Cos. is strengthening its wildfire-defense efforts after deadly blazes swept through California last year. The insurer is adding a service to all of its California home and landlord policies, helping customers prepare their property for a fire by different[…]
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Uber, Lyft Appeal for Deal on Driver Status as Independent Contractors
News – Insurance Journal Jun 14, 2019 | 09:16 amFaced with legislation in California that endangers their business model, Uber Technologies Inc. and Lyft Inc. are urging a compromise that would keep their drivers from being considered employees. “We can make independent work better if we update century-old employment[…]
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Rebranded Crime App Aims for ‘People-Powered Public Safety Net’
News – Insurance Journal Jun 14, 2019 | 09:00 amOne afternoon in late October 2017, hundreds of students from the elite Avenues private school in Manhattan were loaded onto buses, ready to head home. Suddenly, school principal Abby Brody got a disturbing smartphone alert. The crime-tracking app Citizen buzzed[…]
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AGCS Appoints Kadow as Global Head of Marine; Fadden Named Global Head of Aviation
News – Insurance Journal Jun 14, 2019 | 08:30 amAllianz Global Corporate & Specialty SE (AGCS) is rearranging roles in the management team of its Specialty business segment. Effective July 1, 2019, Ulrich Kadow will be appointed as AGCS global head of Marine. Effective immediately, Tom Fadden will be[…]
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El Niño Conditions Likely to Continue Through Summer
News – Insurance Journal Jun 14, 2019 | 08:29 amThere is a 66% chance that the Northern Hemisphere will see persisting El Niño conditions in the summer of 2019, the National Weather Service’s Climate Prediction Center (CPC) said in its monthly forecast on Thursday. “The current downwelling oceanic Kelvin[…]
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OSHA Proposes Nearly $1.8M in Fines After Roofer’s Death in Maine
News – Insurance Journal Jun 14, 2019 | 08:00 amThe federal Occupational Safety and Health Administration has proposed nearly $1.8 million in fines for a Maine roofing contractor after an employee died in December. An OSHA spokesman told the Portland Press Herald that the fine against Shawn Purvis is[…]
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Threat of No-Deal Brexit Isn’t Likely to Win EU Concessions: UK Business Chief
News – Insurance Journal Jun 14, 2019 | 07:59 amThreatening to leave the European Union without a deal isn’t likely to win Britain concessions from the bloc, the country’s biggest business group said in a warning to candidates jostling to succeed Prime Minister Theresa May. “I’ve never felt it[…]
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Insurers Appoint Dutch Marine Engineer to Salvage Oil Tankers in Gulf of Oman
News – Insurance Journal Jun 14, 2019 | 07:27 amDutch marine engineer Boskalis said on Friday it had has been appointed to salvage both tankers that were hit in the Gulf of Oman in a suspected attack. Boskalis said the condition of the Front Altair tanker, carrying a cargo[…]
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China ‘Should Focus’ on Financial Market Reforms, Rather Than Punishing U.S. Firms
News – Insurance Journal Jun 14, 2019 | 07:07 amChina should focus on market reforms and avoid restricting access for U.S. financial firms if the trade war escalates and spills into the financial sector, said a lobby group representing global banks and asset managers. The Asia Securities Industry &[…]
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Maryland’s Frederick Mutual Promotes Showalter to Vice President
News – Insurance Journal Jun 14, 2019 | 06:58 amFrederick Mutual, a Frederick, Md.-based insurance company, has promoted Jill Showalter to vice president and chief insurance operations officer. Showalter initially joined Frederick Mutual on October 2, 2017, as its new regional vice president. In this role, she was responsible[…]
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Canada Expands Credit Insurance for Canola Exporters as China Dispute Continues
News – Insurance Journal Jun 14, 2019 | 06:48 amOttawa increased the insurance coverage available for canola exporters, a government corporation said on Thursday, as it seeks to reduce trade risks amid a dispute with China. China halted purchases of Canadian canola in March, citing pests in shipments by[…]
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